High wage growth in financial sector

At September 1998, financial sector employees took home average monthly earnings of NOK 26,200, up NOK 1,900 or 7.9 per cent from the same time the year before. Banking services employees saw a similar monthly pay increase during the period, rising from NOK 23,400 to NOK 25,300, an increase of 8.1 per cent.

Administrative managers in financial services had average monthly earnings of NOK 36,300, up 9.1 per cent from 1997. By comparison, employees with jobs requiring one to three years of higher education had average monthly earnings of NOK 21,700, an increase of 7.4 per cent. Office and customer service employees took home NOK 19,600 per month, up 8.2 per cent. Monthly earnings of employees with jobs requiring at least four years of higher education were NOK 28,800 in 1998 or 9.5 per cent higher than the year before.

Banking services

Bank employees with jobs requiring more than four years of higher education had monthly earnings of NOK 29,100, up 11.1 per cent from 1997. The group of administrative managers earned an average of NOK 34,200 per month, or about 9.4 per cent more than the year before. Employees with jobs requiring between one and three years of higher education earned NOK 21,300 per month, an increase of 8.0 per cent. This group includes finance brokers with average monthly earnings of NOK 45,500, up NOK 4,300 or 10.6 per cent from the same month last year.

New Statistics
Wage statistics. Employees in financial intermediation, 1 September 1998.
The statistics are published in the Weekly Bulletin of Statistics and Official Statistics of Norway (NOS) Wage Statistics. For more information contact: Trond.Bagaas@ssb.no, tel. +47 62 88 52 27, Alice.Steinkellner@ssb.no, tel. +47 62 88 55 53, or Knut.Hakon.Grini@ssb.no, tel. +47 62 88 54 44.

Weekly Bulletin issue no. 3, 1999